TCS, DMart, Tata Motors, Kotak Mahindra Bank, Bank of India stocks in focus on 11 July 2022

Domestic stock markets look to enter Monday’s trading session on the back of consecutive days of bullish momentum.

TCS, DMart, Tata Motors, Kotak Mahindra Bank, Bank of India stocks in focus on 11 July 2022
Ahead of Monday’s trade, SGX Nifty was down with losses, suggesting a weak start to the day’s trade.

Domestic stock markets look to enter Monday’s trading session on the back of consecutive days of bullish momentum. S&P BSE Sensex is currently at 54,481 points after gaining 0.56% on Friday while the NSE Nifty 50 index is at 16,220 after bulls pulled the index 0.54% or 87.70 points higher. India VIX, the volatility gauge of domestic indices fell 4% to sit below 19 levels. Ahead of Monday’s trade, SGX Nifty was down with losses, suggesting a weak start to the day’s trade. Global cues were mixed after Wall Street indices closed in either direction on Friday.

Stocks to watch 11 July 2022 

Tata Consultancy Services: IT major TCS will be in action today after the company reported its April-June quarter earnings after market hours on Friday. TCS reported a 5% increase in its net profit at Rs 9,478 crore for the first quarter of the current fiscal as compared to Rs 9,008 crore from the same quarter a year ago. The company, however, saw a drop in net profit sequentially while attrition was up 19.7%. TCS also declared an interim dividend of Rs 8 per share.

Avenue Supermarts: Radhakishan Damani’s Avenue Supermarts (DMart) reported a massive jump in net profit in the April-June quarter to clock in at Rs 643 crore, up from Rs 95 crore in the year-ago period. Total Revenue for the quarter ended June 30, 2022 stood at Rs.10,038 crore, as compared to Rs.5,183 crore in the same period last year.  

Tata Motors: The auto giant informed the bourses that global wholesales in Q1 of this fiscal year, including Jaguar Land Rover, were at 3,16,443, higher by 48%, as compared to the same period last year. Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in Q1 higher by 97%, from the year-ago period. 

Power Grid Corporation of India: Power Grid has been declared the successful bidder under tariff-based competitive bidding to establish an Inter-State transmission system for “Transmission System for Evacuation of Power from Neemuch SEZ” on the build, own operate and transfer (BOOT) basis. The project comprises the establishment of two 400kV DIC Transmission lines passing through the states of Rajasthan and Madhya Pradesh, a New 400/220kV Pooling Substation at Neemuch (Madhya Pradesh) and 400kV bay extension work. 

Dr Reddy’s Laboratories: Dr. Reddy’s Laboratories has announced the launch of Fesoterodine Fumarate Extended-Release Tablets in the U.S. market. The same is an equivalent to Toviaz. “The Toviaz brand had U.S. sales of approximately $211 million MAT for the most recent twelve months ending in May 2022 according to IQVIA,” the company said. 

Kotak Mahindra Bank: The private sector lender has acquired the agriculture and healthcare equipment financing portfolio of the Indian subsidiary of global asset finance company De Lage Landen International BV (DLL). With this, the bank has secured 25,000 customers with a total credit outstanding of around Rs 582 crore.

Bank of India: The Reserve bank of India has imposed a penalty of Rs 70 lakh on the Bank of India for failure to allot Unique Customer Identification Code to all customers. 

Results today: Among the companies announcing their quarterly results today will be 5paisa Capital, Star Housing Finance, Spandana Sphoorty Financial, Mishtann Foods, and Sahara One among others. 

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